Zillah prepared this presentation for CCC in 2022, with the aim of helping organisations gain a foothold in the potentially confusing world of Web 3.0 and the Metaverse. We wanted to help people understand what opportunities and pitfalls may exist for new business and revenue models in the cultural and creative sector. Since then, of course, cryptocurrency/blockchain have dominated the news with the spectacular demise of FTX and extreme price volatility in NFTs and underlying assets.
While this presentation necessarily doesn’t reference this, due to the timing of research and production, we hope there is still really useful context and material within it. There is genuine potential and positive use cases in decentralisation and blockchain technology, not least for more equitable distribution of benefits for artists, opportunities to sell new products and content and reach new audiences. However, as with any hyped and capitalised new technology, the market is rife with opportunists. The advice of the CCC partners would be to subject your utility hypothesis and use case to careful consideration, and seek independent, well-referenced professional advice before committing to new business development in and around the NFT/cryptocurrency market.
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